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Invesco Office targets ¥27.7B proceeds from domestic, overseas offerings

Invesco Office J-REIT Inc. resolved to grant the overseas underwriters the option to purchase an additional 51,900 units in its overseas offering of 939,525 investment units.

Together with the overallotment option and a domestic public offering of 1,136,775 units, the Japanese office landlord aims to offer a total of 2,128,200 units.

The company will use approximately ¥14.81 billion in expected proceeds from the domestic offering, along with about ¥12.92 billion from the overseas offering, to partially fund its planned ¥60.00 billion purchase of four properties in Japan.

Additionally, ¥676.3 million is expected be raised from the issuance of up to 51,900 units through a third-party allotment to SMBC Nikko Securities Inc. on May 23. The amount will be kept as cash on hand, according to a release.

As of April 18, US$1 was equivalent to ¥107.28.